A young Muslim millionaire who has died from cancer, spent the last three years of his life giving away his entire wealth to those in need while defying his illness.
Ali Banat, an Australian who became known internationally for his emotional video Gifted with Cancer, captured viewers' hearts as he explained how his worldly possessions meant nothing to him once he discovered he did not have long to live.
“I got rid of my cars, I got rid of my watches, even my clothes," he said in the video, which was recorded four months after his diagnosis in 2015. "I took them with me overseas and gave them to a lot of people there. I wanted to try to leave this world without anything.”
After doctors told him that he had seven months to live, Mr Banat sold his successful business in Sydney and flew to Togo, embarking on an emotional trip that would define the final years of his life.
The African country is one of the world's poorest and moved by his experience of meeting local Muslims he decided to use his money and to raise funds to build a mosque and school, encouraging others to join in his endeavour by establishing a charity, Muslims Around The World – Project.
His possessions included a Ferrari convertible, a diamond bracelet and dozens of pairs of designer sunglasses and shoes, which he said he had donated to “a couple of brothers in Africa”.
“Driving something like this doesn’t really cross my mind anymore, it is not something I would want to do anymore,” he said in the video, next to the Ferrari. He added that the smile of one child who he had helped to clothe was worth more to him than owning his Ferrari.
Many Muslims commenting on social media considered his death in Ramadan as a gift from Allah for his good deeds.
His charity was set up to help to continue his good deeds after his death. The businessman turned humanitarian, who was from Greenacre, Sydney, died last Tuesday.
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Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
Sly Cooper and the Thievius Raccoonus
Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5
The biog
Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.
Favourite Hobby: Writing and cooking
Favourite Book: The Prophet by Gibran Khalil Gibran
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Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September
COMPANY PROFILE
Company name: Nomad Homes
Started: 2020
Founders: Helen Chen, Damien Drap, and Dan Piehler
Based: UAE and Europe
Industry: PropTech
Funds raised so far: $44m
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Sarfira
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Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
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Transmission: Seven-speed automatic
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Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
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Based: Egypt
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Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
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Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
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Funding: $200,000 plus undisclosed grant
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Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars
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Who has won major titles since Wimbledon 2003 when Roger Federer won his first grand slam
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Rafael Nadal 16 (10 French Open, 3 US Open, 2 Wimbledon, 1 Australian Open)
Novak Djokovic 12 (6 Australian Open, 3 Wimbledon, 2 US Open, 1 French Open)
Andy Murray 3 (2 Wimbledon, 1 US Open)
Stan Wawrinka 3 (1 Australian Open, 1 French Open, 1 US Open)
Andy Roddick 1 (1 US Open)
Gaston Gaudio 1 (1 French Open)
Marat Safin 1 (1 Australian Open)
Juan Martin del Potro 1 (1 US Open)
Marin Cilic 1 (1 US Open)
Generational responses to the pandemic
Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:
Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.
Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.
Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.
The specs
Engine: 77kWh 2 motors
Power: 178bhp
Torque: 410Nm
Range: 402km
Price: Dh,150,000 (estimate)
On sale: TBC
